Apple leads global smartwatch shipments in Q2 2021, India fastest growing smartwatch mkt

A recent report by market research firm Counterpoint has revealed that there are more than 100 million active users of Apple Watch across the globe. Along with that, Apple has maintained its dominance in the global smartwatch segment in Q2, 2021. Along with that, Apple has maintained its dominance in the global smartwatch segment in Q2, 2021. Although Apple's market share dipped from 30.1% in Q2 2020 to 28% at the end of June 2021, the Cupertino-based company holds the largest market of smartwatches. 

Top 5 smartwatches in terms of global shipments

The top 5 smartwatches in the world during Q2, 2021 were Apple Watch Series 6 (starts at Rs. 40,900), Apple Watch Series SE (starts at Rs. 29,990), Samsung Galaxy Watch Active 2 (starts at Rs. 17,849), Apple Watch Series3 (starts at Rs. 20,990) and Imoo Z6-4G (starts at $259). As mentioned earlier, Apple maintained its position at the top of the smart wearables market. However, the company lost a significant market share due to competition from Indian brands that are manufacturing budget-oriented smartwatches. 

Apple maintains lead position but loses market share to rising competition 

The top five smartwatch companies around the world are Apple (with a 28% market share, down from 30% last year), Huawei (with a 9.3% market share), Samsung (with a 7.6% market share), Imoo (with a 6.0% market share) and Garmin (with a 5.8% market share). Out of these, Garmin and Samsung recovered from the dip in sales last year at 62% and 43% shipment growth respectively. The Counterpoint report also mentions that a pandemic-driven demand for health monitoring devices has surged the sub-$100 smartwatch market to a massive 547% as Indian brands like Noise and Boat have been manufacturing multiple models in the price range

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India emerges as the fastest growing smartwatch market

The report also mentions that Indian is the fastest growing market of smartwatches, owing to Chinese brands manufacturing affordable smartwatches. As mentioned in the report, Senior Analyst Anshika Jain said: "India was the smallest market in the second quarter of last year, accounting for less than 2% of the total market, but its share increased to 6% in just one year. The proliferation of sub-$100 affordable, feature-rich smartwatches from Chinese brands such as Xiaomi, Realme and OPPO, and Indian brands such as boAt and Noise has been one of the key growth drivers.”

(IMAGE: COUNTERPOINT REPORT)